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Here’s what you need to know today

• President Trump has called for Intel boss Lip-Bu Tan to resign immediately, accusing him of being “highly conflicted” over alleged business ties to China. The demand follows a letter from Republican Senator Tom Cotton to Intel Chairman Frank Yeary raising concerns over Tan’s investments and links to Chinese companies. Intel shares are down 16% over the past month. (CBS)
  
  

• Mark your calendars for the 15th of August. US President Donald Trump and Russian President Vladimir Putin will meet in Alaska to discuss the future of the war in Ukraine. Trump hinted at a “swapping of territories to the betterment of both” Ukraine and Russia but offered no details. Ukrainian President Volodymyr Zelenskyy was quick to respond, saying, “Ukrainians will not give their land to occupiers.”(Guardian)
  
  

• OpenAI has launched Chat GPT-5, promising a faster, smarter, more “human” chatbot with stronger context memory and fewer hallucinations. Beyond the hype, big questions remain over AI regulation and whether GPT-5 pushes us closer to true artificial general intelligence (AGI). (BBC)
  
  

• Australia's privacy watchdog is suing Optus over the 2022 cyber attack that affected the data of around 9.5 million Australians. The Office of the Australian Information Commissioner (OAIC) alleges Optus failed to take “reasonable steps” to protect sensitive information, leaving the telco facing potentially massive penalties and another hit to its already dented reputation. (ABC)
  
  

• US gold futures surged to a record high after Washington blindsided the global bullion market with new tariffs on imports of one-kilo and 100-ounce bars. The surprise move, confirmed by US Customs and Border Protection, sent futures climbing to an intraday peak of $3,534 per troy ounce on Friday. (Financial Times)
  
  

• A social media account tied to Chinese state media has warned that Nvidia’s H20 AI chips could pose security risks due to potential “backdoor” access. The post comes amid Beijing’s wider scrutiny of US-made semiconductors and may signal tighter import restrictions ahead. (Reuters)
  
  

• Shares in the US footwear company Crocs slumped by almost 30% after it CEO Andrew Rees warned of falling sales due to tariffs, “super cautious” US consumers and signs the “ugly shoe” trend may be fading. The company predicted revenues could drop between 9% and 11% in the current quarter, well below analysts expectations. (Wall Street Journal)
  
  

• In another sign that US consumers are “worrying about a slowing economy and stubbornly high prices”, more are eating at home to save money. IHOP and Applebee’s owner Dine Brands, Sweetgreen, Wendy’s, and Denny’s all warned investors this week that cautious spending is hurting sales, echoing a similar warning from Chipotle Mexican Grill last month. (Financial Times)
  
  

• Australians spent more hours watching live sport and YouTube in Q2, while Netflix’s share of viewing time slipped, according to OzTAM’s second-ever Streamscape report. Netflix remains the biggest single streaming platform but dropped nearly a percentage point to 8.5% of all viewing on Australian TV screens, while YouTube closed the gap, rising from 7.7% to 7.9%. (AFR)

What the…?

A Zoo in Denmark has stirred headlines with a pretty wild callout, they’re asking locals to donate their unwanted pets. Not for adoption, but for feeding time.

Aalborg Zoo has asked for donations of live chickens, rabbits, and guinea pigs, which it says are "gently euthanised" by trained staff.

The zoo has defended the move as sustainable and natural, arguing it mimics what the animals would eat in the wild and offers a practical way to deal with unwanted pets. (BBC)

Investing is a lifelong journey

Here’s what you can learn today.

How to speak to children about investing

Community Question: How are you engaging the children of clients? What can every parent learn from your approach?

We put this questions to Matt Ingram, Partner and Financial Adviser at Northhaven Financial Management.

For younger clients with young children:

• I encourage parents to talk to their kids about money from a young age. Simple things like saving pocket money, understanding needs vs. wants, and the basics of how money works can set them up for good financial habits as an adult.

• Even young kids can grasp the idea of ‘making your money work for you.’ I suggest parents use real-life examples like showing how a savings account grows with interest or explaining what it means to own a tiny piece of a company through shares. This makes investing understandable to them.

• Where it’s the right strategy for a client, holding a small portfolio on behalf of their child can give the child exposure to investing and a sense of ownership over the portfolio.

For older clients with adult children:

• Common strategies like a cash out recontributions in superannuation (essentially minimising tax on superannuation death benefits so more is left with the children) can open up conversations about wealth transfer, superannuation, and future planning. These discussions naturally bring the kids into the picture. Where appropriate, they can join in on meetings so they can ask questions and start thinking about their own financial goals if they haven’t already.

What I think every parent can learn from this:

• Money conversations shouldn’t be taboo. The earlier you start talking about money with your kids, the more confident and capable they’ll be. With your adult children, be transparent with how your financial situation might impact them one day in the event of a transfer of wealth so they can start planning.

• Involve them in real decisions that are age appropriate. This might be little day-to-day things for young children, discussing big financial moves with adult children.

Interested in speaking to a financial adviser? Fill out the form on our website and we’ll match you with one of our hand-picked advisers.

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